MGP bought the property in July for $1.02 billion. MGM Resorts owns 70 percent of MGM Growth Properties. The casino will be added to an existing lease between MGM Resorts and its REIT MGM Growth Properties (MGP).
MGM purchased the operations for $275 million with escrow expected to close in the second quarter of 2019. The racino, which has 700 employees, is located 17 miles from Cleveland.
MGM Resorts has acquired the operations of the Hard Rock Rocksino Northfield Park, opening the Ohio market to one of the fastest growing casino developers in the country.
